Despite the recent banking Royal Commission findings, mortgage broker scrutiny, the credit squeeze and the acclimatising property market, First National is adamant that bricks and mortar is still the best investment Australians can make for themselves and their family’s future.
Off the back of the banking Royal Commission there has been a lot of real estate fear-mongering, however the great Australian dream of owning your own home is still the best investment Aussies will ever make for themselves and their family’s future.
It is very important Australians realise that housing prices do have a cyclical nature and they shouldn’t be disillusioned by that.
Banks will always lend money to people who can demonstrate they are in a position to make the repayments.
Banks are demonstrating a greater diligence and they are pouring over living expenses and even in some cases, considering how much is spent on Uber Eats, but that is to assess and ensure that their customer’s monthly repayments can be met, and they are not endangering someone’s financial wellbeing.
First National believes in the vital role mortgage brokers play in real estate and that Australians shouldn’t shy away from turning to them for advice and service.
Mortgage brokers are critical to healthy competition and connecting Australians to the very best products to suit their needs and financial situation. Australians should also not be concerned about the adjustment taking place in capital city marketplaces, especially given that many regional markets are still showing great resilience, or even rising prices.
Australia is witnessing a rebalancing of the marketplace, which is combining with a decentralization trend in some parts of the country; one in which families are relocating to regions that offer attractive lifestyle amenities and strong employment options.
What we are experiencing now is actually a normal market and the fundamentals that underpin housing prices such as immigration, employment and increasing demand, assure that areas where prices are currently falling will return to growth in due course.
Housing investment is for the long term and now is the time to buy while affordability is better.